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HMRC internal manual

COTAX Manual

From
HM Revenue & Customs
Updated
, see all updates

the CT Online Service: Your Tax Account: single company view

This subject is presented as follows.

General
AP breakdown
Amount charged
Satisfaction of charge 

General

This application enables companies and their agents to see the information in COTAX function VPPD (View Payment and Postings Details) in a format that is easier for them to understand.

The first screen shows details of the company, contact numbers and the agent acting.

The ‘View account’ link on the left of the screen takes the company or agent to the Your Balance screen that shows:

  • the balance outstanding to HM Revenue and Customs, or the amount overpaid
  • a list of accounting periods (APs) giving rise to the balance.

It is important to remember that because of the delay in updating Your Tax Account, the information provided is always as at the date shown in the top right hand corner of the screen.

Where there is no outstanding balance due or overpayment arising, the Your Balance screen shows a nil figure and no AP details. To view AP information, use the ‘Accounting Periods’ link in the left hand bar.

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AP breakdown

When you select an AP, you see the Accounting Period Overview screen showing a breakdown of the chosen period.

For each AP you see the:

  • amount charged under the descriptions tax, interest and penalties, with a sub-total of the overall liability
  • payments and reallocations with a final total of the amount outstanding or overpayment arising.

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Amount charged

Each description is a hyperlink. When you select it, you see a breakdown of how the total amount has been calculated.

Tax

This figure is from the most recent assessment or amendment on the COTAX record. Any discovery assessment made is shown separately. Your Tax Account and CT View L and P may combine several VPPD postings to give a single assessment figure. For example, one tax charge may include a self assessment and Section 455. To see further detail, use COTAX function DASS (Display Assessment).

Interest

This single figure is made up from the total of each of the four types of interest which may appear in VPPD:

  • credit interest
  • debit interest
  • repayment interest
  • late payment interest.

If you select the total interest figure you see the total of each of the different types of interest arising in that AP. Selecting the different types of interest shows how it has been calculated.

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Penalties

This figure is a total of the two types of penalty determinations which may appear in Function VPPD:

  • flat rate
  • tax related.

If you select the total penalty figure, you see a breakdown of each type of penalty arising in that AP.

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Satisfaction of charge

To arrive at a balanced AP or any total outstanding or repayable, the satisfaction of charge is broken down as:

  • less paid
  • repayments and reallocations
  • adjustments.

Each heading is a hyperlink which, when selected, shows how the total is made up.

Less Paid

This figure is the total of the three types of payment that are shown in Your Tax Account and CT View L and P. If you select the total ‘Less paid’ figure, you see the total of each of the different types of payment arising in that AP.

Descriptions of types of payment

Electronic payment Bacs and CHAPS payments
   
Cheque payment Bank lodgement payments
Inland Revenue credit District set-offs using Function DSET (District Set Off)

Repayment / Reallocation

Under this heading, you see details of both repayments made to the company and reallocations within the AP.

In Your Tax Account and CT View L and P, repayments are shown as being made by payable order or Bacs transfer. Where appropriate, it shows a repayment as having been cancelled after issue.

Your Tax Account and CT View L and P show repayment postings only when they have been authorised on COTAX. Repayments awaiting authorisation, subject to an inhibition or cancelled before they are issued, do not appear. You therefore sometimes see a difference between the details shown in VPPD and those shown online.

To arrive at the total repayment made on a particular date, you must add the repayment figure to any repayment interest figure shown.

Reallocations are shown under two descriptors.

  • Reallocations represent transfers between APs with details of the AP from which money has been moved. Transfers between tax, interest and penalties within an AP are not shown.
  • Miscellaneous transfers are items which were originally posted on another record and have subsequently been transferred to this AP, such as S963 CTA 2010 surrenders or payments with incorrect payslips or reference numbers. Specific details relating to one company cannot be shown to another because of data protection.

Adjustments

This description relates to COTAX postings not included in any other area of Your Tax Account and CT View L and P. The amounts are displayed under three categories and shown as a single total figure for each category as shown below.

  • ‘Postponement’ refers to amounts that are subject to a formal postponement or agreement.
  • ‘Not currently being pursued’ refers to automatic and informal standovers and automatic and manual remissions.

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  • ‘Permanent overpayment’ refers to small amounts below £1 that have not been repaid.

See COM61012 for a list of functions to use in particular situations.